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Aug-2024
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Overview
Market Insights Snapshot
Floresense has shown a consistent performance in the Oil category across different provinces, particularly in British Columbia and Ontario. In British Columbia, Floresense maintained a stable ranking of 11th place from May to July 2024, before improving to 10th place in August 2024. This upward movement is a positive indicator, especially considering the increase in sales from $13,384 in May to $22,471 in August. In Ontario, Floresense exhibited a slight fluctuation in rankings, moving from 14th place in May to 13th in June, then back to 14th in July, and again to 13th in August. Although the brand experienced a decrease in sales from June to August, the ranking consistency suggests a stable market presence.
It's important to note that Floresense's performance in these provinces highlights both strengths and areas for improvement. The brand's ability to maintain and slightly improve its ranking in British Columbia is promising, indicating a strong foothold in the market. However, the fluctuating rankings in Ontario suggest some volatility that may need to be addressed. The absence of Floresense from the top 30 brands in any other states or categories could be seen as a missed opportunity for market expansion. This analysis underscores the importance of strategic efforts to bolster Floresense's presence in other regions and categories to achieve a more balanced and widespread market performance.
Competitive Landscape
In the Ontario oil category, Floresense has shown a relatively stable performance, maintaining its rank between 13th and 14th place from May to August 2024. This stability, however, contrasts with the more dynamic movements of its competitors. For instance, Five Founders experienced a notable fluctuation, dropping from 7th in May to 12th in June, before recovering to 9th place in July and August. Similarly, Divvy improved its rank significantly from 15th in May to 10th in June, and maintained a top 10 position in August. Despite these shifts, Floresense's sales have seen a decline from $39,555 in June to $28,580 in August, indicating potential challenges in market penetration or consumer retention. Meanwhile, C Minor showed a decline in rank from 12th in May to 14th in August, with a corresponding drop in sales. The data suggests that while Floresense maintains a consistent rank, it may need strategic adjustments to boost sales and compete more effectively with brands like Five Founders and Divvy, which have shown more dynamic performance trends.
Notable Products
In August 2024, the top-performing product for Floresense was CBD 100 Clear Oil (20ml) in the Oil category, maintaining its first-place ranking consistently from May through August with sales of 1247 units. The CBN:THC:CBD 10:5:1 Blueberry Dreams (30ml) also in the Oil category held the second position, showing a notable increase in sales from May to July but a slight decrease in August. The Social Series - Cranberry Beach Distillate Cartridge (1g) in the Vapor Pens category climbed to third place in August, a significant improvement from its fifth-place ranking in May. The Socialites - Mixed Drink Infused Pre-Roll 3-Pack (1.5g) dropped to fourth place, showing a decline in sales over the months. Lastly, the Social Series - Strawberry Chill Distillate Cartridge (1g) in the Vapor Pens category maintained its fifth-place ranking, highlighting stable performance despite fluctuating sales figures.
Top Selling Cannabis Brands
Data for this report comes from real-time sales reporting by participating cannabis retailers via their point-of-sale systems, which are linked up with Headset’s business intelligence software. Headset’s data is very reliable, as it comes digitally direct from our partner retailers. However, the potential does exist for misreporting in the instance of duplicates, incorrectly classified products, inaccurate entry of products into point-of-sale systems, or even simple human error at the point of purchase. Thus, there is a slight margin of error to consider. Brands listed on this page are ranked in the top twenty within the market and product category by total retail sales volume.
